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Define the term cross elasticity of demand

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Reference no: EM131546558

Define the term "cross elasticity of demand"

Price of commodity X (SH) Demand for commodity X (Units)
12 80
16 100
20 120
24 140
28 160

d) The following data relate to a consumer in a certain market:

Required: Calculate the cross elasticity of demand of commodity Y with each of the changes in price of commodity X. comment on the relationship the two commodities.

Reference no: EM131546558

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